Coastal Investment Advisors Inc. reduced its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,331 shares of the biopharmaceutical company’s stock after selling 656 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,412,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of BMY. Parkside Advisors LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth $225,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Bristol-Myers Squibb by 104.1% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,019 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 5,619 shares during the period. Capital Investment Advisors LLC boosted its position in Bristol-Myers Squibb by 4.0% during the first quarter. Capital Investment Advisors LLC now owns 224,535 shares of the biopharmaceutical company’s stock worth $16,398,000 after purchasing an additional 8,596 shares during the period. Flagship Harbor Advisors LLC boosted its position in Bristol-Myers Squibb by 5.3% during the first quarter. Flagship Harbor Advisors LLC now owns 29,562 shares of the biopharmaceutical company’s stock worth $2,159,000 after purchasing an additional 1,496 shares during the period. Finally, Carret Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 0.6% in the first quarter. Carret Asset Management LLC now owns 67,732 shares of the biopharmaceutical company’s stock valued at $4,946,000 after acquiring an additional 385 shares during the period. 73.07% of the stock is currently owned by institutional investors.
BMY has been the topic of several analyst reports. Raymond James downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research note on Friday, June 3rd. They noted that the move was a valuation call. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 17th. Morgan Stanley dropped their price target on shares of Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 6th. Bank of America boosted their target price on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Finally, StockNews.com began coverage on Bristol-Myers Squibb in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.27.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.04. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The business had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $11.34 billion. During the same period last year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Bristol-Myers Squibb will post 7.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 1st will be issued a $0.54 dividend. The ex-dividend date is Thursday, June 30th. This represents a $2.16 annualized dividend and a dividend yield of 2.82%. Bristol-Myers Squibb’s payout ratio is currently 76.60%.
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the transaction, the chief executive officer now directly owns 551,104 shares in the company, valued at $40,803,740.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sandra Leung sold 65,000 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the transaction, the executive vice president now owns 308,627 shares of the company’s stock, valued at $23,113,076.03. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Profile (Get Rating)
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.
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